MoonLake Immunotherapeutics (NASDAQ:MLTX) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

MoonLake Immunotherapeutics (NASDAQ:MLTX) issued its quarterly earnings data on Monday. The company reported ($0.84) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.08, FiscalAI reports.

MoonLake Immunotherapeutics Price Performance

MLTX stock opened at $18.26 on Monday. MoonLake Immunotherapeutics has a twelve month low of $5.95 and a twelve month high of $62.75. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.34 billion, a PE ratio of -4.72 and a beta of 1.06. The business has a 50 day moving average of $19.05 and a 200 day moving average of $17.88.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MLTX shares. BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of MoonLake Immunotherapeutics in a research report on Tuesday, June 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MoonLake Immunotherapeutics in a research report on Tuesday, May 12th. Needham & Company LLC increased their price target on shares of MoonLake Immunotherapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Leerink Partners raised their price objective on shares of MoonLake Immunotherapeutics from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of MoonLake Immunotherapeutics in a research report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.21.

Insider Buying and Selling at MoonLake Immunotherapeutics

In other MoonLake Immunotherapeutics news, CEO Da Silva Jorge Santos sold 68,289 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $20.02, for a total value of $1,367,145.78. Following the sale, the chief executive officer directly owned 2,774,893 shares of the company’s stock, valued at approximately $55,553,357.86. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kristian Reich sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $20.02, for a total value of $1,001,000.00. Following the transaction, the insider owned 2,714,746 shares of the company’s stock, valued at $54,349,214.92. The trade was a 1.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 344,800 shares of company stock worth $6,820,071 over the last three months. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of MoonLake Immunotherapeutics

Several institutional investors have recently bought and sold shares of MLTX. Virtu Financial LLC purchased a new position in MoonLake Immunotherapeutics in the 4th quarter worth approximately $166,000. Wells Fargo & Company MN lifted its position in MoonLake Immunotherapeutics by 92.0% in the 4th quarter. Wells Fargo & Company MN now owns 10,000 shares of the company’s stock valued at $132,000 after acquiring an additional 4,792 shares in the last quarter. Brooklyn Investment Group purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at $204,000. Campbell & CO Investment Adviser LLC purchased a new stake in MoonLake Immunotherapeutics during the 4th quarter valued at $177,000. Finally, Quarry LP increased its holdings in shares of MoonLake Immunotherapeutics by 400.1% in the 3rd quarter. Quarry LP now owns 9,001 shares of the company’s stock worth $65,000 after purchasing an additional 7,201 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

MoonLake Immunotherapeutics Company Profile

MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland.